Bank Muscat, the leading financial services provider in the Sultanate of Oman, has launched the Bank Muscat Al Tharwa Fund. This fund aims to provide investors, both individuals and institutions, with stable returns through regular dividend distributions and capital appreciation. The Fund will offer diversification by investing in equity and fixed income asset classes, with allocations dynamically managed by an experienced asset management team at Bank Muscat. The Al Tharwa Fund will be the first of its kind in Oman, allowing investors to invest in both equity and fixed income securities across GCC regional and international markets.
The Bank Muscat Al Tharwa Fund is an open-ended fund regulated by the Financial Services Authority in Oman, open to both individual and institutional investors. The Initial Public Offering for the Fund will open on 1st September and close on 12th September, 2024, with an initial offer price of 101 baiza per unit. Daily liquidity is offered with no minimum holding period, and investors can subscribe with a minimum amount of OMR 50. The Fund’s Net Asset Value (NAV) will be published daily on Bank Muscat and Muscat Stock Exchange websites for investors to track their investments.
Bank Muscat customers interested in subscribing to the Fund during the initial public offering period can download the subscription form from the bank’s website or subscribe through the Internet Banking platform. Investors may redeem their units through the Internet Banking platform or by submitting redemption forms to the nearest branch of Bank Muscat or Meethaq Islamic Banking during the continuous offer period. The Fund’s investment strategy aims to maintain an optimal mix of equities and fixed income securities to provide regular dividends and capital gains while managing volatility through diversification.
Khalifa bin Abdullah Al Hatmi, Deputy General Manager of Investment Banking and Capital Markets at Bank Muscat, expressed excitement about launching the Bank Muscat Al Tharwa Fund. He emphasized the Fund’s commitment to offering innovative investment solutions to meet the evolving needs of investors. The Fund’s objective is to provide stable returns and capital appreciation by investing in equities and fixed-income instruments in the GCC and international markets. Al Hatmi highlighted the Fund’s attractive investment option and the expertise of Bank Muscat’s Asset Management team in dynamic equity and fixed income allocation.
The primary goal of the Bank Muscat Al Tharwa Fund is to generate regular income and capital appreciation through a diversified portfolio of equity and fixed income instruments in the GCC and international markets. Bank Muscat’s Asset Management team, as the Investment Manager of the Fund, has a proven track record in managing assets across various funds and strategies. The team’s experience in equities and fixed income management, as seen in the Bank Muscat Oryx Fund, showcases consistent performance over timeframes. Investors are encouraged to review the prospectus of the Fund, available on the bank’s website, to understand its terms and conditions and to be aware of key risk factors associated with mutual fund investments.
